AFP - Greece and Spain are in "depression, not recession",
Nobel prize-winning economist Joseph Stiglitz said on Wednesday, blaming
tough austerity measures for their downward economic spiral.
Stiglitz also maintained that the International Monetary Fund was "a
little too optimistic" in its forecast last week that the eurozone
economy would shrink by 0.4 percent in 2012 and rise by 0.2 percent next
year.
"I'm more pessimistic than they are (about growth)... I see
significant risk of continuing turmoil," he said in New Delhi on the
sidelines of a conference held by the Organisation for Economic
Cooperation and Development.
READ MORE: http://www.france24.com/en/20121017-greece-spain-depression-nobel-winner-stiglitz
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